Description: One of the most fundamental concepts in actuarial practice is the time value of money. For any work in which future cash flows are allowed for, such as reserving or pricing, it is natural to discount to present values so that an appropriate amount of money can be set aside today, allowing for future investment returns. This article discusses yield curve extrapolation methods along with the benefits and drawbacks of these methods.

Description: One of the most fundamental concepts in actuarial practice is the time value of money. For any work in which future cash flows are allowed for, such as reserving or pricing, it is natural to discount to present values so that an appropriate amount of money can be set aside today, allowing for future investment returns. This article discusses yield curve extrapolation methods along with the benefits and drawbacks of these methods.

Description: 1992 SOA Annual Meeting, Washington, D.C. This 1992 session on the Statutory Valuation Opinion covered the following topics: 1. Regulatory issues and the amendments to the standard valuation law. 2. Practical considerations, such as accumulating data, setting assumptions and creating models. 3. Issues and considerations involved in cash-flow testing.

Description: The current drafts of the principle-based reserves PBR model law and accompanying regulations appear to include credit life insurance within the scope. It is expected that once the scope of PBR is expanded to include accident and health insurance, credit disability will fall within its scope as well. This article describes how will this affect credit actuaries.

Description: This paper discusses some of the main principles of classical life contingencies generalized and formulated in the language of probability theory and develops generalized and exponential reserves. From Transactions of Society of Actuaries 1976, Vol. 28.